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Veem
Simplifying global business payments for small and medium-sized enterprises.
What it does
Facilitates domestic and international B2B payments in 100+ countries. Provides real-time payment tracking (similar to a package tracker). Automates accounts payable and receivable workflows. Syncs payment data automatically with QuickBooks, Xero, and NetSuite. Allows businesses to pay via bank transfer, credit card, or Veem Wallet.
Why it works
Cost: Offers competitive FX rates and often zero wire fees for international transfers. Transparency: Both sender and receiver can see exactly where the money is at all times. Speed: Many transactions settle in 1-3 days, compared to the 3-5 days typical of legacy banking. Simplicity: Does not require the complex SWIFT/IBAN codes usually needed for international wires.
Category: Marketing & Growth
Team Size: 100+
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As of 2026
Marketing & Growth
Simplifying global business payments for small and medium-sized enterprises.
Overview
Veem is a global payments network that enables businesses to send and receive funds internationally with the ease of an email. By using a multi-rail technology (including blockchain, SWIFT, and local treasury), it offers faster transactions, better exchange rates, and significantly lower fees than traditional banks, while integrating seamlessly with major accounting software.
Funding status: Funded
Customer type: B2B
Pricing: Freemium
Tech stack: React, Java, Blockchain (Ethereum/Stellar), AWS
Platform: Web • iOS • Android
Integrations: QuickBooks, Xero, NetSuite, Zapier, Shopify
Founder story
Founded in 2014 by Marwan Forzley in San Francisco. Marwan, a veteran of the payments industry (ex-Western Union), saw that while consumer payments were being disrupted by apps like Venmo, B2B payments were still stuck in the 1970s. He built Veem to be the 'Venmo for global business,' focusing on the underserved SME market.
What it does
- Facilitates domestic and international B2B payments in 100+ countries
- Provides real-time payment tracking (similar to a package tracker)
- Automates accounts payable and receivable workflows
- Syncs payment data automatically with QuickBooks, Xero, and NetSuite
- Allows businesses to pay via bank transfer, credit card, or Veem Wallet.
Who it's for
- Small business owners
- Freelancers
- E-commerce merchants
- Accounts Payable departments
Why it works
- Cost: Offers competitive FX rates and often zero wire fees for international transfers
- Transparency: Both sender and receiver can see exactly where the money is at all times
- Speed: Many transactions settle in 1-3 days, compared to the 3-5 days typical of legacy banking
- Simplicity: Does not require the complex SWIFT/IBAN codes usually needed for international wires.
Growth strategies
- Pioneered the use of 'blockchain- as-a-rail' for business payments, hiding the complexity from the end-user.
- Built a massive network effect by encouraging users to 'invite' their vendors to the platform.
- Integrated deeply into the QuickBooks and Xero app ecosystems to reach small business accountants.
- Successfully pivoted to a broad multi- rail model to ensure 100% global reliability.
Alternatives
Comparison overview
- Wise: Excellent for low-cost transfers, but Veem offers more robust B2B workflow features like invoice syncing.
- Payoneer: Stronger for marketplaces and individual freelancers; Veem is better for professional SME accounts payable.
- Tipalti: A high-end enterprise leader; Veem is the better choice for smaller companies without massive procurement teams.
- Veem is the go-to for small businesses that need a professional, global bank-alternative for their daily operations.